A number of other equities research analysts also recently weighed in on BIIB. BMO Capital Markets reaffirmed a hold rating and set a $318.00 price objective on shares of Biogen in a research report on Tuesday, July 18th. Goldman Sachs Group raised Biogen from a neutral rating to a buy rating and raised their price objective for the company from $228.00 to $338.00 in a research report on Wednesday, July 26th. Leerink Swann reaffirmed a market perform rating and set a $338.00 price objective (up previously from $304.00) on shares of Biogen in a research report on Wednesday, July 26th. Deutsche Bank reissued a buy rating and issued a $319.00 price target (up previously from $315.00) on shares of Biogen in a report on Wednesday, July 26th. Finally, Morgan Stanley reissued an equal weight rating and issued a $311.00 price target (up previously from $301.00) on shares of Biogen in a report on Wednesday, July 26th. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $344.32.
Shares of Biogen (NASDAQ BIIB) opened at $319.35 on Monday. The firm has a market capitalization of $68,131.52, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. Biogen has a 52 week low of $244.28 and a 52 week high of $348.84.
In related news, Director Alexander J. Denner purchased 30,000 shares of Biogen stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the transaction, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Biogen in the third quarter valued at approximately $123,494,000. Botty Investors LLC boosted its stake in shares of Biogen by 75.0% in the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock worth $3,048,000 after acquiring an additional 4,812 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Biogen by 25.0% in the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock worth $3,524,000 after acquiring an additional 2,598 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after acquiring an additional 342,568 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Biogen by 18.6% in the second quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock worth $7,591,000 after acquiring an additional 4,389 shares during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.
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Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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